How Do I Do Day Trade with Different Chart Time frames? - Trading on Multiple Charts Day Trading

Forex Day Trading on Multiple Charts Time Frames - 5 Minute Day Strategy - 15 Min Day Trading Strategy

Day Traders

This group of day trader holds on to their trades for few hours but not more than a day. With the aim to make quite a number of pips, 30 - 100 pips.

Day trader 15 min chart timeframe wants to go long, checks 1 hour chart time frame, which resembles the one below, since 1 hour chart time frame shows market trend is going up, then decides from this chart analysis it's okay to buy.

Forex Day Trading on Multiple Charts - 5 Minutes and 15 Minutes Day Trading Strategy

Forex day trader traders using technical analysis use charts to try & attempt to predict the movement of price on the charts.

Forex Day traders will sometimes use two or more chart time-frames so as to determine the long-term trend and the short term trend.

How Do You Define a Price Trend for Day Trading

Using a system that has 3 indicators - MA Crossover System, RSI and MACD & using simple rules to define the trend. The rules are:

Upward Trend

Both Moving Averages Moving Up

RSI Indicator above 50 Mark

MACD Above Center-Line

Downward Trend

Both Moving Averages Moving Down

RSI Indicator below 50 Mark

MACD Below Center Line

Multiple charts time frames analysis equals using two timeframes to trade currencies - a shorter chart time-frame used for trading & a longer chart time-frame to check the trend - the chart timeframes that you select for price action with will depend on the type of trader you are: for day traders the chart time frames used for trading will be example of 15 min chart timeframe and 1 hour chart time-frame.

Since it is always good to follow the market trend when Day Trading, in Multiple Chart Time-Frame Analysis, the longer 1 hour chart time-frame gives us the direction of the long-term trend when Day Trading using the 15 Min Chart Time-Frame.